By Henry Uche
Over 250 insurance delegates across West Africa will converge in Lagos for the West African Insurance Companies Association (WAICA) education conference 2025, for climate change risks discourse.
Slated for October 12 to 15 in Lagos under the aegis of Nigerian Insurers Association (NIA), behalf of the broader Nigerian insurance market, with the theme: “The West African Insurer in the Face of Climate Change, the event would give Nigerians and other attendees from the subregion ample opportunity to learn and understand the need to embrace insurance as risks associated with climate change intensify.
Addressing newsmen in Lagos, the Chairperson of Local Organizing Committee and CEO of Rex Insurance Limited, Mrs. Ebelechukwu Nwachukwu, said flooding, agriculture, and other risk emanating from climate change have caused more harm in the West Africa subregion, impacting heavily in people’s lives, hence the need for insurers and leaders to work in synergy to safeguard economies and communities from the escalating risks of climate-related disasters.
According to her, it is high time every individual especially leaders took insurance very serious particularly at a time like this when things are falling apart following disruptions across nooks and crannies of human endeavors.
“Climate risks are impacting on economies in the subregion. Risks associated with climate change is obvious. People need to know how insurance sector is positioning itself to provide cover for them relating to risk exposure from climate change.
“The conference will provide a strategic platform for deliberations on the impact of climate change on the insurance industry, as well as actionable strategies to safeguard the future of insurance education and practice.
“It is particularly important for African insurers to engage in robust discussions on climate change, as the continent faces unique vulnerabilities such as extreme weather events, flooding, drought, and agricultural disruptions that directly impact businesses, communities, and livelihoods”
Nwachukwu stressed that for insurers, the insurance challenges translate into rising claims, increased risk exposures, and the urgent need for innovative products and risk management strategies.
“African insurers not only strengthen their collective preparedness but also position themselves to engage competitively with their global counterparts in shaping sustainable insurance practices and climate resilience solutions”
She confirmed that the Minister of State, Ministry of Finance, Dr. Doris Uzoka-Anite would deliver the keynote address; while Mr. Olusegun Omosehin, Commissioner for Insurance is the Chief Host. More so, local and international insurance industry leaders, dignitaries, and technical experts will critically dissect the theme and sub-themes.
Meanwhile, Dr. Abiba Zakaria, Ag. Commissioner of Insurance, Ghana; Mr. Wole Oshin, Group Managing Director, Custodian Investment Plc; Mr. Bockarie Kaloko, Deputy Minister of Finance, Republic of Sierra Leone; Ms. Tola Adegbayi, MD/CEO, Mutual Specialist, and Mr. Sunday . Thomas, former Commissioner for Insurance, Nigeria, would be there.
Rex Insurance Chief affirmed that adequate arrangements for the transportation and security of foreign delegates and other participants has been put in place to ensure a seamless and safe experience throughout their stay in Lagos.
Leave a comment